Egyptian Resorts’ losses widen in 9M-22

Reuters Images/Mohamed Abd El Ghany

Revenues for 9M-22 reached $4.71mln

Staff Writer, Mubasher

November 24, 2022

PHOTO

Cairo – Egyptian Resorts Company reported consolidated net losses of EGP 84.85 million during the first nine months (9M) of 2022, a surge from EGP 4.33 million in the corresponding period in 2021.

Loss per share stood at EGP 0.06 in the nine-month period ended 30 September 2022, according to a bourse statement.

Revenues for 9M-22 reached EGP 89.25 million, compared to EGP 97.09 million in 9M-21.

As for the standalone businesses, the company shifted to net profits of EGP 528.38 million in the January-September 2022 period, against net losses of EGP 17.75 million in the prior-year period.

In the first half (H1) of 2022, the net losses of Egyptian Resorts Company enlarged to EGP 93.26 million, compared to EGP 13.56 million in H1 of 2021.

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